Estate agent comparison site, GetAgent.co.uk, recently analysed property market performance to reveal the time it takes for agents to secure buyers.
The figures reveal that so far in 2022, estate agents are securing a buyer in an average of 84.7 days. That is 14.7 days quicker than last year.
By tracking the average time to sell a home across the market in England and Wales these results were found. These were based on the point at which a property is listed for sale and the point at which the seller accepts an offer.
Estate agents are right on track
According to the new findings, it takes UK estate agents an average of 84.7 days between first listing a property for sale and accepting an offer. Improvement rates are undeniable as last year this took an average of 99.4 days.
Agents with the quickest time to find a buyer predominantly in the LA21 postcode in the Lake District. Agents in this area take an average of 22 days to secure a buyer so far in 2022.
Birmingham’s B4 postcode is taking an average of 33.4 days to find a buyer, with Greater Manchester’s M31 postcode ranking third at an average of 37.1 days.
The biggest reduction in the time taken to find a buyer in 2022 was observed across the LL35 postcode at the tip of the Snowdonia National Park. Agents in this postcode took an average of 306.8 days to secure a buyer.
Chief operations officer of GetAgent.co.uk, Mal McCallion commented: “Hats off to the nation’s estate agents, who have not only worked tirelessly throughout the pandemic property market boom, but in the vast majority of postcodes they’ve managed to secure a buyer at a quicker pace in 2022 when compared to last year.”
“It will be interesting to see just where we land come the end of the year, as the landscape has certainly become trickier over the past few weeks. Last week’s hike to interest rates will undoubtedly drive a slowing of pace for the nation’s homebuyers, enabling the best estate agents to really show their quality.”
“While we may see demand levels cool somewhat, there should remain adequate homebuyer interest for those agents who can perform at the very top of the local markets. Those working hardest will continue to attract the nation’s focused buyers and sellers.”
